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Home Massachusetts Multi-Family Homes for Sale

38 Sheafe Street Boston, MA 02113
NEW
40
$2,195,000
Total Beds: 5 Total Baths: 4
Total Units: 4 SQFT: 2805
LOT size: 0.01 Acres
38 Sheafe Street
Boston, MA 02113
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Property Description

Rarely available & lovingly owned by the same family for generations, this exceptionally maintained 4-family property presents a unique opportunity in the heart of Boston’s historic North End. Strong investment with substantial value-add potential. Pro forma rental income at current market rates is projected at over $140K annually. 2 of the 4 units are currently occupied by family members without leases & are significantly below market rent. The remaining 2 units are also below market value with leases in place through 8/31/26. Property features an extraordinary duplex-style layout with finished lower level, private patio access, & in-unit laundry. 1 of the units has long functioned as a 2-bedroom. Major property improvements include roof in 2023 & hot water tank in 2024. Potential future roof deck opportunity. A rare chance to own a generational asset in one of Boston’s most iconic & sought-after neighborhoods, surrounded by renowned restaurants, cafes, waterfront, downtown & the "T".
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Property Details

Building Information

  • Total Units: 4
  • Total Floors: 5
  • Total Bedrooms: 5
  • Total Full Baths: 4
  • Amenities: Bike Path, Highway Access, House of Worship, Laundromat, Marina, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Swimming Pool, T-Station, Tennis Court, University, Walk/Jog Trails
  • Basement Features: Finished, Full, Interior Access, Other (See Remarks)
  • Common Rooms: Family Room, Kitchen, Living Room
  • Common Interior Features: Bathroom With Tub, Ceiling Fans, Intercom, Pantry, Stone/Granite/Solid Counters, Tile Floor, Upgraded Cabinets, Upgraded Countertops
  • Common Appliances: Dishwasher, Disposal, Dryer, Freezer, Microwave, Range, Refrigerator, Washer
  • Common Heating: Extra Flue, Gas, Gas, Heat Pump, Hot Air Gravity, Hot Water Baseboard
  • Common Cooling: None

Financial

  • APOD Available: No
  • Expenses Source: Owner Provided
  • Gross Operating Income: 92400
  • Gross Expenses: 10844
  • GSE: 3417
  • Electric Expenses: 499
  • Water/Sewer: 2043
  • INSC: 4885
  • Net Operating Income: 81556

Utilities

  • Electric Info: Individually Metered
  • Energy Features: Insulated Doors
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Gas, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 2

Unit 2 Description

  • Included in Rent: Gas, Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Gas, Heat, Hot Water, Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Unit 4 Description

  • Included in Rent: Gas, Heat, Hot Water, Water
  • Under Lease: Yes
  • Floors: 4
  • Levels: 1

Construction

  • Year Built: 1910
  • Type: 4 Family - 4 Units Up/Down
  • Construction Type: Brick
  • Foundation Info: Poured Concrete
  • Roof Material: Rubber
  • Flooring Type: Hardwood, Tile, Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73515576
  • Last Updated: 05/09/26

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Map

Seller's Representative: The Fiorelli Group, Maureen Fiorelli Rlty Assoc
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2026-05-09 14:40:00

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